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IEA Trims Oil Glut Forecast as Supply Surge Halts
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Why This Matters
The IEA has trimmed its forecast for oil glut in 2026, reducing the expected oversupply by 230,000 barrels per day to 3.84 million barrels per day, indicating a slight improvement in the oil market.
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Article Context
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The oil market still faces record oversupply next year, according to the monthly report by the International Energy Agency (IEA), but the glut estimate is now trimmed by about 230,000 barrels per day compared to the November forecast. The market is headed to as much as 3.84 million barrels per day (bpd) of supply exceeding demand in 2026, the IEA said on Thursday in its closely-watched report for December. While this still is a considerable glut, it’s lower than the 4.09 million bpd implied oversupply expected in the November…
Original article published by
OilPrice.com
on December 11, 2025.
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